Rationale: -The 100 and 200 EMA have acted as strong support for the duration of the uptrend. -When price touches the 200 EMA it usually responds with a large bounce up. -The 200 EMA corresponds with an area of local support (buy zone). -The confluence with the 200 EMA and support zone gives us confidence in taking a long position.
Your risk, your reward. This is not financial advice. Happy trading.